Like many other banks, Isbank has implemented fraud detection technologies across many service channels, from biometric authentication to transaction fraud monitoring, in total five fraud detection technologies in place.

With over 17 million customers, Isbank’s fraud operations were already under strain due to high work volume. Fraud operations teams were growing daily to handle the increased workload. This is a problem shared by most Tier 1 banks as well.

Isbank’s fraud operations were defragmented due to the underlying fraud data, each channel acting as a silo, isolated and cut off from the others (e.g. A-E –>).

Information sharing was limited and antiquated, fraud analyst (across A-E) had to exchange data via email. This made identifying cross-channel fraud complex and almost impossible (A-E did not work together resourcefully, and F “Fraudster” had it easy to navigate past A-E).

In addition, inbound fraud reporting by bank call center agents (G), such as stolen bank cards, chargebacks, or suspicious transactions, were manually reported to fraud analysts through email as well. These antiquated fraud management processes created issues with quantitative analysis and reporting. For instance, generating monthly fraud statistics were time-consuming, so much so there was an entire team dedicated to fraud reporting only. Management was also unable to accurately measure the performance and quality of the fraud operations team.

In essence, fraud was growing due to an increase in business channels and the fraud teams had a significant challenge to keep up, Fraud operations needed a future-proofed method of handling more frauds at the same time as reducing the overall fraud.

4. The solution

When FCase was introduced to Isbank, their fraud management consisted of five different real-time fraud prevention systems under a heavy transaction load (across A-E, with each having their own front end –>).

After a thorough analysis, we decided to connect all fraud prevention systems into FCase fraud operations, to enable the fraud investigations teams to have a 360 degree view of the fraudster, which in turn enabled clearer and faster decision making at an enterprise level, at the same time reducing fraud overall (including cross channel fraud).

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